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China to further tighten public spending

Source:   Time:

The Chinese central government will continue to tighten budgets for overseas junkets, receptions and cars to fight against extravagance in 2011, according to a cabinet meeting held on Wednesday.

The government will report the final spending accounts to the National People's Congress (NPC), China's top legislature, in June, and make the accounts available for public supervision, according to a statement issued after the executive meeting of the State Council, or the Cabinet, presided over by Premier Wen Jiabao.

The meeting calls for establishing a long-term mechanism to promote frugality. Budgets on public spending should be strictly controlled.

China's crack down on extravagant spending by officials saved the country 5.7 billion yuan (863 million U.S.dollar) last year, said Wu Yuliang, secretary general of the Central Commission for Discipline Inspection of the Communist Party of China (CPC).

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